314 Oakland Avenue
Royal Oak, MI 48067
- – beds
- 20 baths
- 27,732 sqft
- ~3/4 acre lot
- $160 per sqft
- 1963 build
- – on site
The Royal Oakland is a fully stabilized, 20-unit apartment building located in the desirable community of Royal Oak, Michigan. This trophy asset features 16 one-bedroom, one-bath units (700 sq. ft.) and 4 two-bedroom, one-bath units (900 sq. ft.). The property has 28 off street dedicated parking spaces for tenants. The property is 100% occupied, generating a gross monthly income of over $33,700. Over the past two years, the property has undergone extensive renovations. The parking lot was replaced two years ago, and the roof was updated in 2019. Sixteen of the twenty units have received interior upgrades, including new flooring, cabinets, countertops, bathrooms, paint, and fixtures, with each renovation costing around $25,000. These renovated units are commanding rental increases of $500–$700 per month.
Last checked:
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Last updated Nov 22, 2024
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MLS# 20240081443 —
The Building
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Year Built:1963
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Construction Materials:Brick
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Architectural Style:Contemporary
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Foundation:Brick/Mortar
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Foundation Details:Basement
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# of Units Total:20
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Stories:2 Story
Interior
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Basement:Yes
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Basement Type:Partially Finished
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Fireplace:No
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Total:27,732 Sqft
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Total Combined:27,732 Sqft
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Total Basement:2,000 Sqft
Financial & Terms
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Land Contract:No
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Short Sale:No
Location
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Directions:Royal Oak
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Directions From North South Detail:Washington
The Property
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Property Type:Multifamily
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Parcel Number:2516477022
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Zoning:Multi-Family
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Homestead:No
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Lot Size Dimensions:129.00 x 269.00
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Lot Size Area:0.80
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Pool:No
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Waterfront:No
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Road Frontage Type:Paved
Listing Agent
- Contact info:
- Agent phone:
- (360) 989-5395
- Office phone:
- (313) 209-2900
Taxes
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Total Taxes:$34,027
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Tax Amount Summer:$28,844
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Tax Amount Winter:$5,183
Baths
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Total Baths:20
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Full Baths:20
Heating & Cooling
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Heating:Forced Air, Hot Water, Separate Meters
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Heating Fuel:Natural Gas
Utilities
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Sewer:Public Sewer (Sewer-Sanitary)
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Water Source:Public (Municipal)
Schools
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School District:Royal Oak
The Community
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Subdivision Name:ASSR'S PLAT NO 6 - ROYAL OAK
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Pets Allowed:Call
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Assessment:15.00
Parking
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Total Parking:25
Extra Units
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Unit One Bed Number Of:16
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Unit Two Bed Number Of:4
IDX provided courtesy of Realcomp II Ltd., via Estately and Realcomp II Ltd, © 2024 Realcomp II Ltd. Shareholders
Estately Inc. is a Michigan licensed brokerage #6505374810, managed by Michigan licensed REALTOR® broker Darren Yearsley #6505374810.
IDX information is provided exclusively for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
IDX provided courtesy of Realcomp II Ltd. via Estately Inc. and REALCOMP. ©2024 Realcomp II Ltd. Shareholders.
Walk Score®
Provided by WalkScore® Inc.
Walk Score is the most well-known measure of walkability for any address. It is based on the distance to a variety of nearby services and pedestrian friendliness. Walk Scores range from 0 (Car-Dependent) to 100 (Walker’s Paradise).
Bike Score®
Provided by WalkScore® Inc.
Bike Score evaluates a location's bikeability. It is calculated by measuring bike infrastructure, hills, destinations and road connectivity, and the number of bike commuters. Bike Scores range from 0 (Somewhat Bikeable) to 100 (Biker’s Paradise).
Soundscore™
Provided by HowLoud
Soundscore is an overall score that accounts for traffic, airport activity, and local sources. A Soundscore rating is a number between 50 (very loud) and 100 (very quiet).
Max Internet Speed
Provided by BroadbandNow®
This is the maximum advertised internet speed available for this home. Under 10 Mbps is in the slower range, and anything above 30 Mbps is considered fast. For heavier internet users, some plans allow for more than 100 Mbps.
Sale history
| Date | Event | Source | Price | % Change |
|---|---|---|---|---|
|
10/28/24
Oct 28, 2024
|
Listed / Active | REALCOMP | $4,450,000 |
